State Bank of India (SBI) chairperson Arundhati Bhattacharya announced the bank will soon start dispensing Rs 50 and Rs 20 currency notes to further help the public.
The announcement comes as a breather for citizens who were grappling with shortage of cash and limited denominations ever since the demonetisation was announced on November 8.
Citizens were in a difficult situation after Rs 500 and Rs 1,000 were declared illegal by the central government. Following the decision, ATM kiosks and banks witnessed an unprecedented flow of citizens who thronged to withdraw cash.
The SBI chief said that in all of their branches in the southern states, the workload has dropped to almost 50 per cent, which is a sure sign that people are assured that they will receive the money at their own convenience.
However, talking about the inconvenience caused to the masses with ATMs running out of cash faster than expected, Bhattacharya added that ATMs are emptying out fast because it has a fixed space for notes of 100 and also the dimension of the new notes has changed, adding that the holding capacity in the ATM is confined.
“But what takes the most time is manual recalibration. A person has to come and physically add the money when it runs out. We hope and are trying that we can sort this problem by end of November. And if the chaos subsides by then, then we will also start dispensing 50 and 20 rupee notes in coming days,” she said.
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